The .xyz community is growing with unique NFT platforms. Web3 platform Mojito.xyz helps businesses and organizations create NFT marketplaces. Ethereum-based platform Manifold.xyz helps creators mint NFTs embedded with smart contract technology. DAO-governed Universe.xyz helps artists launch community-driven NFT universes. In this week’s #WebsiteWednesday we’ll introduce you to a no-code NFT platform aimed at helping creators launch NFT collections with lower transaction costs: Fair.xyz.
Fair.xyz is a no-code NFT platform aimed at creating a more efficient and fair NFT launch process for both creators and collectors. The London-based platform is designed with a combination of smart contract and proprietary queueing technology intended to reduce obstacles like gas wars, failed transactions, and more. Fair.xyz raised a total of $4.5M in funding led by blockchain-focused venture capital firm Eden Block, with participation from leading NFT marketplace OpenSea and seed-stage venture capital firm NFX.1 In February 2022, when the Russo-Ukrainian War broke out, the founders reached out to more than 40 officials from the Ukrainian government with offers to launch an NFT collection to raise funds for the war. They succeeded and launched the first ever government-backed NFT collection.2 On September 7, 2022, Fair.xyz announced a new partnership with leading NFT marketplace OpenSea to launch a feature named “Minter Token.” A Minter Token can cryptographically prove the minter of a specific NFT, even if they no longer own it. Each Minter Token is “soulbound,” which means it is non-tradable and belongs to the user forever.3
We are now on the verge of opening our doors for all of you to experience what we’ve been built, with 15,000+ of you having already signed up to our early access. Join them by visiting https://t.co/XsfP5JZgzc pic.twitter.com/hPm4kaaXSp
— Fair.xyz (@fairxyz) August 9, 2022
On August 9, 2022, Fair.xyz shared a tweet claiming that more than 15,000 people have signed up for the waitlist.4 The highly anticipated platform features proprietary blockchain technology focused on easier launches, while maintaining the creator’s full ownership rights to the project’s smart contract. Fair.xyz’s smart-queuing technology helps to eliminate transaction expenses like gas fees while reducing the number of unsuccessful transactions and bots from traditional minting activities. The platform’s current infrastructure has been optimized to considerably reduce gas fees during a mint on Ethereum and Polygon blockchains. The platform is also developing a solution that will help creators launch NFT collections quickly and simply. In an interview with crypto-focused news source The Block, co-founder Isaac Bentata Chocron explained “When you launch at scale — say 10,000 – you have to deploy your own smart contract, build a website and integrate the NFT fully into it, generate your artwork and decentralize it. It’s a very elaborate process that can take weeks for an experienced team.”5 Fair.xyz hopes to reduce the process down to a matter of minutes.
Fair.xyz is founded by Isaac Kamlish (a former web3 team member at Instagram), Nathan Cohen (a former software developer at Meta), and Isaac Bentata Chocron (a former credit algorithmic trader at Goldman Sachs). The group’s creator-focused innovations and humanitarian efforts are not uncommon in the .xyz community. Just as .xyz works to reshape the future of the internet, Fair.xyz’s founders are striving to reshape the future of web3. As Fair.xyz states on their LinkedIn page, they are starting with digital art, but aim to expand to digital wearables, social tokens, music, architecture, fashion, and more. We look forward to the launch and more accomplishments from Fair.xyz and their founding team. You can learn more by following the platform on LinkedIn @Fairxyz, Instagram @Fair.xyz, and Twitter @Fairxyz, and by visiting Fair.xyz.
XYZ is proud to share about the many incredible members that make up the XYZ community! We encourage you to do your own research before using the products and services of the websites we feature. The information about products and services contained in this blog post does not constitute endorsement or recommendation by XYZ.